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New Operating Hours Law To Transform Cyprus Hospitality Industry

by THEFUTURE.TEAM

February 16, 2026

Legislative Overhaul Targets Sectoral Modernization

The parliamentary Energy Committee is reviewing a proposal that could significantly reshape operating hours for hospitality and entertainment venues across Cyprus. The initiative also includes provisions for the establishment of recreational centres and is intended to close existing regulatory gaps while strengthening the competitiveness of the tourism and dining industries.

Industry Categorization and Operational Adjustments

The draft law introduces a new classification of service venues and adjusts operating schedules according to season. Following strong reactions from professional associations and other stakeholders, the government revised the bill before its submission for closed-door committee discussions. In line with parliamentary procedure, the detailed debate and final amendments will be decided exclusively by elected members of parliament.

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Seasonal Flexibility And Specific Amendments

Under the revised proposal, pubs and bars would operate on different seasonal timetables. From May 1 to September 30, opening hours would run from 7:00 AM to 2:30 AM on weekdays and Sundays, with an extension until 3:30 AM on Fridays and Saturdays. From October 1 to April 30, weekday and Sunday operations would end at 2:00 AM, while weekend hours would extend until 3:00 AM. These changes replace earlier rules that allowed restaurants, taverns, cafés, pizzerias and snack bars to operate from 6:00 AM to 1:30 AM.

Refined Hours For Entertainment Venues

The legislation also sets updated schedules for event halls, reception venues and music or dance centres. During the summer period, these establishments would be permitted to operate from 8:00 PM to 2:30 AM on weekdays and Sundays, with later closing times on weekends. In winter, weekday and Sunday operations would end at 2:00 AM, again with extended hours on Fridays and Saturdays. Earlier drafts proposed uniform early closures, but the revised version introduces more flexibility to better reflect market demand.

Local Authority Flexibility

Municipal councils would retain the right to temporarily adjust operating hours for recreational venues for up to six months per year. This provision is designed to give local authorities room to respond to tourism peaks, festivals or regional economic needs while maintaining a consistent national framework.

Final approval of the reform is expected to come from the full House of Representatives, with the bill scheduled for submission before the April session ahead of the upcoming parliamentary elections.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.